Spero Therapeutics (NASDAQ:SPRO) Releases Quarterly Earnings Results, Beats Expectations By $0.12 EPS

Spero Therapeutics (NASDAQ:SPRO) announced its quarterly earnings data on Thursday. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.12, Zacks reports. Spero Therapeutics had a negative net margin of 108.11% and a negative return on equity of 116.62%. The business had revenue of $5.44 million for the quarter, compared to the consensus estimate of $12.00 million.

Spero Therapeutics Trading Down 1.2%

NASDAQ SPRO traded down $0.03 on Friday, reaching $2.41. The company’s stock had a trading volume of 251,110 shares, compared to its average volume of 1,191,648. The firm has a market cap of $135.62 million, a PE ratio of -3.05 and a beta of 1.55. The business has a 50-day moving average price of $2.19 and a 200 day moving average price of $2.10. Spero Therapeutics has a 52 week low of $0.51 and a 52 week high of $3.22.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Zacks Research cut shares of Spero Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Spero Therapeutics in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $5.00.

Insider Buying and Selling

In other Spero Therapeutics news, insider Esther Rajavelu sold 40,270 shares of the company’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $2.37, for a total value of $95,439.90. Following the sale, the insider directly owned 869,450 shares in the company, valued at $2,060,596.50. This represents a 4.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Spero Therapeutics

Several hedge funds have recently modified their holdings of SPRO. Invesco Ltd. bought a new stake in shares of Spero Therapeutics during the second quarter worth $43,000. Dimensional Fund Advisors LP acquired a new stake in shares of Spero Therapeutics in the 3rd quarter valued at approximately $55,000. XTX Topco Ltd acquired a new position in Spero Therapeutics in the second quarter valued at about $100,000. Vanguard Group Inc. increased its holdings in shares of Spero Therapeutics by 2.0% in the third quarter. Vanguard Group Inc. now owns 1,989,855 shares of the company’s stock worth $3,741,000 after acquiring an additional 39,474 shares in the last quarter. Finally, Two Sigma Investments LP acquired a new stake in shares of Spero Therapeutics during the third quarter worth about $93,000. Institutional investors and hedge funds own 25.60% of the company’s stock.

Spero Therapeutics Company Profile

Spero Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on identifying, developing, and commercializing novel treatments for multi-drug resistant (MDR) bacterial infections and rare diseases in the United States. The company’s product candidates include tebipenem pivoxil hydrobromide (HBr), an oral carbapenem-class antibiotic to treat complicated urinary tract infections, including pyelonephritis for adults; SPR206, an intravenous-administered antibiotic against MDR Gram-negative pathogens comprising carbapenem-resistant enterobacterales (CRE), acinetobacter baumannii, and pseudomonas aeruginosa, as well as negative bacterial infections in the hospital setting; and SPR720, a novel oral antibiotic agent for the treatment of non-tuberculous mycobacterial pulmonary disease.